On Friday, US stocks experienced a slight decline as the tech-led rally displayed signs of fatigue after a week of gains. The S&P 500 lost approximately 0. 2%, while the Nasdaq Composite fell by 0. 3%. However, the Dow Jones Industrial Average saw a marginal increase of 0. 1%. This dip in the S&P 500 and Nasdaq is noteworthy as it breaks the trend of recent weeks where both indices have been steadily rising. On Thursday, the S&P reached a new high, briefly crossing 5, 500 for the first time, while the Nasdaq ended its seven-session streak of record closes with a loss. The AI-driven rally has largely been influenced by Nvidia, which briefly held the title of the world's most valuable company this week. Following a notable loss on Thursday, Nvidia's stocks were down more than 2% in morning trading on Friday. Other chip stocks, including Broadcom, Super Micro Computer, and Qualcomm, also experienced declines in the early hours. Investors are also keeping an eye on the overall US economy and the trajectory of interest rates.

Former St. Louis Fed president James Bullard, known for his hawkish stance on inflation, suggested that last week's modest Consumer Price Index could potentially lead to a rate cut in September. Based on the CME FedWatch tool, approximately two-thirds of traders still anticipate rate cuts starting from September. During the opening bell on Friday, US stocks slipped slightly as investors taking part in the tech-led rally paused momentarily. The S&P 500 lost around 0. 1%, the Nasdaq Composite fell by 0. 2%, and the Dow Jones Industrial Average rose close to 0. 2%.